Serbia mining: Nevsun made progress in the implementation of copper gold Timok project

14. February 2017. / Mining

Minister of Energy and Mining Aleksandar Antic spoke with Fraser Bourchier, Executive Manager of the Canadian mining company “Nevsun Resource”, which is investigating the sites of precious metals at Bor.

It was concluded on the meeting that significant progress was made in the implementation of Timok project on the “Cukaru Peki’ deposit, which is according to previous researches, one of the richest copper and gold mining sites in the world, according to the Ministry of Mining and Energy.

“We expect that the Study for certification of reserves in the upper part of the site will be submitted in 2017 and that construction works for the pit construction will begin this year which, in the first phase, will be in the function of further exploration activities, and afterwards for the purpose of exploitation”, said Antic.

Upon completion of exploration works, the plan of the companies “Nevsun Resource” and “Rakita Exploration” is to start exploitation and open the mine, which will be one of the largest copper and gold mines in Europe, according to a statement by the Ministry of Mining and Energy.

As mentioned, it is expected that the opening of the mine in that region will bring numerous jobs that will accelerate economic growth in the region and raise Serbian GDP.